Friday 6/7 Insider Buying Report: EOLS, FCX (Nasdaq.com)
At Evolus (EOLS), a filing with the SEC revealed that on Monday, Director Vikram Malik purchased 1,298,701 shares of EOLS, for a cost of $19.25 each, for a total investment of $25M. Investors are able to pick up EOLS at a price even lower than Malik did, with shares changing hands as low as $15.90 in trading on Friday – that’s 17.4% below Malik’s purchase price. Evolus is trading down about 5.3% on the day Friday. Before this latest buy, Malik bought EOLS on 2 other occasions during the past year, for a total investment of $350,042 at an average of $21.34 per share. And on Thursday, CEO Richard C. Adkerson bought $1.74M worth of Freeport-McMoran Copper & Gold (FCX), buying 172,000 shares at a cost of $10.14 a piece. Freeport-McMoran Copper & Gold is trading up about 3.9% on the day Friday. Adkerson was up about 4.7% on the buy at the high point of today’s trading session, with FCX trading as high as $10.62 in trading on Friday.
India’s Manappuram Finance Gets Notice Over Alleged Insider Trading (Reuters)
BENGALURU, June 7 (Reuters) – Indian lender Manappuram Finance Ltd said on Friday it got a show-cause notice from the market regulator alleging that its officials disclosed price-sensitive information to a research analyst firm in 2013. The Securities and Exchange Board of India (SEBI) has issued show-cause notices to five asset management companies, including SBI Fund Management and BNP Paribas, for allegedly using price-sensitive information to trade in Manappuram Finance’s shares in March 2013, the Business Standard newspaper had reported here earlier in the day.
The Sr VP General Counsel of Black Hills Corp (NYSE: BKH) is Selling Shares (Analyst Ratings)
Today, the Sr VP General Counsel of Black Hills Corp (BKH), Brian Iverson, sold shares of BKH for $503.8K. In addition to Brian Iverson, 7 other BKH executives reported Sell trades in the last month. Based on Black Hills Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $598 million and quarterly net profit of $104 million. In comparison, last year the company earned revenue of $575 million and had a net profit of $133 million. BKH’s market cap is $4.7B and the company has a P/E ratio of 19.84. Currently, Black Hills Corp has an average volume of 81.8K.
A Director at Spire Inc (NYSE: SR) is Buying Shares (Analyst Ratings)
Today, a Director at Spire Inc (SR), Edward Glotzbach, bought shares of SR for $208K. Following this transaction Edward Glotzbach’s holding in the company was increased by 100% to a total of $681K. Following Edward Glotzbach’s last SR Buy transaction on June 09, 2009, the stock climbed by 62.1%.
SEC Charges Issuer With Conducting $100 Million Unregistered ICO (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has sued Kik Interactive Inc. for conducting an illegal $100 million securities offering of digital tokens. The SEC charges that Kik sold the tokens to U.S. investors without registering their offer and sale as required by the U.S. securities laws. As alleged in the SEC’s complaint, Kik had lost money for years on its sole product, an online messaging application, and the company’s management predicted internally that it would run out of money in 2017. In early 2017, the company sought to pivot to a new type of business, which it financed through the sale of one trillion digital tokens. Kik sold its “Kin” tokens to the public, and at a discounted price to wealthy purchasers, raising more than $55 million from U.S. investors. The complaint alleges that Kin tokens traded recently at about half of the value that public investors paid in the offering.
